Home / Business and Economy / Glencore Abandons New York Listing Amid Tariff Uncertainty
Glencore Abandons New York Listing Amid Tariff Uncertainty
6 Aug
Summary
- Glencore scraps plans to move primary listing from London to New York
- Company reports $655 million net loss in H1 2025 due to lower coal prices, production issues, and tariff uncertainty
- Glencore launches $1 billion cost-cutting program to boost profits
On August 6th, 2025, the commodities trading and mining company Glencore announced that it has abandoned its plans to move its primary listing from the London Stock Exchange to the New York Stock Exchange. The Swiss-headquartered firm had been considering the move since February 2025, but after a formal review, it determined that shifting its listing to a rival bourse would not present value for its shareholders.
Glencore's decision comes amidst a challenging period for the company. In the first half of 2025, the firm reported a net loss of $655 million, almost triple the $233 million loss it incurred during the same period in the previous year. The company attributed these losses to a combination of factors, including lower coal prices, copper production problems, and the ongoing uncertainty caused by the stop-start tariffs imposed by the Trump administration, including on U.S. mineral imports.
In response to these financial challenges, Glencore has launched a $1 billion cost-cutting program in an effort to shore up its profits. The company's shares have fallen by almost a fifth so far this year and dropped over 4% in early trading on August 6th.
Meanwhile, the article also notes that multiple countries are engaged in late-stage negotiations with the U.S. government over tariffs, with the deadline for new tariffs looming on August 8th. Even Canada, which had previously imposed counter-tariffs, may be willing to remove some of these measures as the deadline approaches.
